Wedbush Securities Inc. Has $626,000 Stock Position in Sony Group Co. (NYSE:SONY)

Wedbush Securities Inc. cut its stake in shares of Sony Group Co. (NYSE:SONY) by 10.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,367 shares of the company’s stock after selling 820 shares during the period. Wedbush Securities Inc.’s holdings in Sony Group were worth $626,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of SONY. Brown Brothers Harriman & Co. boosted its position in Sony Group by 16.6% during the 4th quarter. Brown Brothers Harriman & Co. now owns 786 shares of the company’s stock worth $74,000 after buying an additional 112 shares during the period. American National Bank lifted its holdings in shares of Sony Group by 11.3% during the second quarter. American National Bank now owns 1,172 shares of the company’s stock worth $100,000 after purchasing an additional 119 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of Sony Group by 1.5% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 8,656 shares of the company’s stock worth $735,000 after purchasing an additional 124 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in Sony Group by 20.6% in the first quarter. Hexagon Capital Partners LLC now owns 749 shares of the company’s stock valued at $64,000 after purchasing an additional 128 shares during the period. Finally, Belpointe Asset Management LLC lifted its holdings in Sony Group by 1.4% during the 2nd quarter. Belpointe Asset Management LLC now owns 9,265 shares of the company’s stock worth $787,000 after buying an additional 128 shares during the period. 14.05% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Sony Group from a “buy” rating to a “hold” rating in a research note on Wednesday, August 21st. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Sony Group presently has an average rating of “Moderate Buy” and a consensus target price of $108.00.

Sony Group Trading Down 0.1 %

SONY opened at $93.63 on Friday. The stock has a market cap of $115.56 billion, a PE ratio of 17.21 and a beta of 0.94. The company has a quick ratio of 0.47, a current ratio of 0.63 and a debt-to-equity ratio of 0.26. Sony Group Co. has a twelve month low of $75.11 and a twelve month high of $100.88. The company has a fifty day moving average of $90.83 and a 200-day moving average of $86.31.

Sony Group’s stock is set to split on the morning of Monday, September 30th. The 5-1 split was announced on Tuesday, May 14th. The newly created shares will be distributed to shareholders after the closing bell on Monday, September 30th.

Sony Group (NYSE:SONY) last announced its earnings results on Wednesday, August 7th. The company reported $1.22 EPS for the quarter, beating the consensus estimate of $1.11 by $0.11. Sony Group had a return on equity of 12.82% and a net margin of 7.59%. The company had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.42 billion. On average, sell-side analysts predict that Sony Group Co. will post 5.63 EPS for the current year.

Sony Group Profile

Sony Group Corporation designs, develops, produces, and sells electronic equipment, instruments, and devices for the consumer, professional, and industrial markets in Japan, the United States, Europe, China, the Asia-Pacific, and internationally. The company distributes software titles and add-on content through digital networks; network services related to game, video, and music content; and home gaming consoles, packaged and game software, and peripheral devices.